Bellavista President Aldo Martin told GrowthSpotter he partnered with Alamo Homes Group and RBZ International Corp. to form ARB Land Development LLC, which closed on the 9-acre tract in late November for $680,000. Total investment will be just under $10 million, he added.
"Our plan is to market and sell these units as a resort," he said. "They are designed to appeal to Brazilian buyers. They're going to be contemporary - kind of a 'Magic Village' flavor. South Americans like that style."
The gated resort will have a private clubhouse and pool. "This is going to be a boutique resort," Martin said. "We're going to offer two floorplans with three bedrooms and two bathrooms with an option for a fourth bedroom."
The partners plan to start land development and pre-sales in Second Quarter 2017 and townhome construction Q3 2017.
Osceola County approved a rezoning from Agricultural/Conservation to Low Density Residential in August. In October, Martin filed a Preliminary Subdivision Plan (PSP) that is still under review by county staff.
Bellavista is currently serving as GC on developer Feltrim Group's the Balmoral at Waters Edge resort in Four Corners, delivering the first units this month, Martin said. It also built Feltrim's The Fountains at ChampionsGate, and will break ground on the Crescent Condominiums in Reunion in Q1 2017.